"This strong financial performance has enabled us to position us to challenge for & win trophies in the coming years," said United's executive vice-chairman Ed Woodward.

"The Club is on target to achieve record revenues in 2017, even without a contribution from the Champions League."

The announcement also included confirmation of how much United paid to end the Van Gaal era at Old Trafford, with a £8.4m bill considered by many to be a good investment as the veteran tactician had lost the faith of the club's supporters around the world.

The club's accounts up until 30 June 2016 confirmed the widely-expected news that they had become the first British club to break the half-billion mark, but it is short of Barcelona's €679m (£570m) revenue announced in July.